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September 19, 2008

Alcoa Announces Dividend

NEW YORK--The Board of Directors of Alcoa (NYSE:AA) declared (a) a quarterly common stock dividend of 17 cents per share payable November 25, 2008 to shareholders of record at the close of business on November 7, 2008 and (b) a quarterly dividend of 93.75 cents per share on Alcoa’s $3.75 cumulative preferred stock payable January 1, 2009 to shareholders of record at the close of business on December 12, 2008. Alcoa has paid a quarterly dividend on its common stock for more than 60 years.

About Alcoa

Alcoa is the world leader in the production and management of primary aluminum, fabricated aluminum and alumina combined, through its active and growing participation in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components including flat-rolled products, hard alloy extrusions, and forgings, Alcoa also markets Alcoa® wheels, fastening systems, precision and investment castings, and building systems. The Company has 97,000 employees in 34 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com